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Enforcement Letter

 
Organisation: Financial Supervisory Commission
Issue No.: Financial-Supervisory-Securities-Firms-1070331570 
Issue Date: 2018/08/30
Content:     Order of the Financial Supervisory Commission (FSC)

    Issue date: 30 August 2018
    Issue number: Issue no.: Financial-Supervisory-Securities-Firms-1070331570

  1. Under Article 17, paragraph 1, subparagraph 1 of the Regulations Governing Offshore Structured Products, for an offshore structured product to be offered in the Republic of China to professional investors for trust investment, brokerage trade, or linking to an investment-linked insurance product, the long-term credit rating of the issuing institution or the guarantor or the issue rating of the offshore structured product must meet a certain rating level or higher given by a credit rating agency as set out in Attachment 1.
  2. Under Article 18, paragraph 1, subparagraph 1 of the Regulations Governing Offshore Structured Products, for an offshore structured product to be offered in the Republic of China to non-professional investors for trust investment, brokerage trade, or linking to an investment-linked insurance product, the long-term credit rating of the issuing institution or the guarantor or the issue rating of the offshore structured product must meet a certain rating level or higher given by a credit rating agency as set out in Attachment 2.
  3. This Order is effective from this day forward. FSC Order No. Financial-Supervisory-Securities-Firms-1030042052 of 6 November 2014 is repealed from this day forward.

    Originals: To be posted on the public notice boards of the FSC and the FSC Securities and Futures Bureau
    Copies (including attachments): Legal Affairs Committee, Executive Yuan; Central Bank; FSC (Department of Legal Affairs, Department of Information Management); FSC Financial Examination Bureau; FSC Banking Bureau; FSC Insurance Bureau; Taiwan Stock Exchange Corporation; Taipei Exchange; Taiwan Depository & Clearing Corporation; Taiwan Financial Services Roundtable; Trust Association of R.O.C.; Taiwan Securities Association; Life Insurance Association of the R.O.C.; Securities Investment Trust and Consulting Association of the R.O.C.; Bankers Association of the Republic of China; Lex Data Information Inc.; Root International Information Co., Ltd.; Winkler Partners, Attorneys at Law